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Pakistan spent $118 billion on 'war on terror': SBP

Pakistan spent $118 billion on 'war on terror': SBP

Pakistan has spent a hefty USD 118 billion since 2002 to combat terrorism which has significantly hampered growth and it is facing "serious challenges" to its economy, according to a new central bank report.

New poverty line makes a third of Pakistanis poor

 At least 60 million Pakistanis are living below the poverty line, posing a challenge for the government.

Pakistan economy to increase to 4.5% this year: IMF

The IMF Friday forecast Pakistan's country's economy to increase to 4.5 percent this fiscal, citing macroeconomic stability, low global oil prices, planned improvements in the domestic energy supply and investment related to the China-Pak Economic Corridor.

Pakistan to clock 4.3% growth this year: IMF

The IMF Tuesday projected a 4.3 percent growth rate for Pakistan this year and a higher 4.7 percent in 2016, noting that the cash-strapped country would benefit from a global fall in crude oil prices.

Pakistan economy to grow by 4.4%: World Bank

The WB prediction is in line with that of International Monetary Fund and the Asian Development Bank that are also seeing around 4.3 per cent growth, the Express Tribune said.

Pakistan cuts key interest rate

Pakistan`s central bank cut its key interest rate by 0.5 percent on Saturday in a bid to give the country`s improving economy further momentum.

Pakistan resumes crude oil export after a decade

After a gap of 10 years, Pakistan has resumed export of crude oil with the output touching an all-time high, a report said on Sunday.

Pak Eco outlook improved despite terrorism and energy problems

Despite problems of terrorism and energy crisis, the economic outlook of Pakistan improved last fiscal with inflation remaining in single digit and foreign remittances showing a rise, the State Bank of Pakistan said today.

Pak monthly inflation back in double digits

This is a steep rise of 1.8 percentage points compared to 9.1 percent in October

IMF team visits Pakistan to kick the tyres on economic reforms

Pakistani Prime Minister Nawaz Sharif faces the first formal test of his economic policies this week during a visit by the International Monetary Fund. It won`t be easy.

Sharif sets in motion privatisation plan

In a massive privatisation initiative, the Sharif government has decided to sell 26 percent or more shares of 31 state-owned entities, including Pakistan Steel Mills and Pakistan Railways.

IMF warns Pakistan at ‘high risk’ of economic crisis

According to the Daily Times, the organization has approved a 6.7 billion dollars loan package to help Pakistan revive its ailing economy and prevent a balance of payments crisis.

Pakistan sets 4.4% economic growth rate target: Minister

Pakistan's cash-strapped government has set a target of 4.4 percent economic growth for the coming fiscal year, the finance minister said today, while promising new measures to tackle crippling power cuts.

Inflation in Pakistan drops to 9-yr low despite govt. borrowing

Inflation in Pakistan had slipped to a nine-year low in April despite an expansionary fiscal policy pursued by the finance ministry.

IMF asks Pakistan to begin taking steps to stabilise economy

The International Monetary Fund (IMF) has asked Pakistan to begin taking necessary actions to stabilise the economy and lay the groundwork for future growth.

New investment policy to liberalise economy: Pakistani daily

Pakistan's new investment policy seeks to further liberalise the economy, said a leading daily ruing that "few investors want to come here".

Pak trade deficit drops 12% to $11.61 bn in Jul-Jan

Pakistan's central bank on Friday said the country's trade deficit has fallen 12 percent to USD 11.61 billion in the first seven months ending January of the current fiscal.

Pakistan's fiscal policies a disaster, says daily

Pakistan's fiscal policies have been an "unmitigated disaster" almost from the outset, said a daily, warning that the situation could get even worse.

Pakistan to receive 42 mn euro in aid from European Commission

India will continue to be a focus of the European Community's humanitarian assistance in 2013, but five major global hotspots of crises, including Pakistan, will receive the largest chunk of over 661 million euros aid earmarked for this year, the European Commission has said.

Moody's downgraded Pakistan's credit rating to Caa1 from B3

Pakistan’s credit rating system was further downgraded by Moody’s Investor Service, which cited dwindling currency reserves and political instability.